Okla. Stat. tit. 11, § 11-36-309: Refunding street improvement bonds - Authority

Any municipality which has issued street improvement bonds by

virtue of the authority of any law or charter provision is

authorized to refund the bonds. In refunding such bonds, the

governing body may provide for:

1. The levy and collection of assessments to pay the bonds;

2. The retirement of the street improvement bonds originally

issued;

3. The cancellation of any or all prior assessments, and

penalties and interest, together with interest and penalties that

have accrued thereon, by and with the written consent and under

written contract with the holders of any series of the street

improvement bonds;

4. A written "Agreement to Accept Street Improvement Refunding

Bonds" in exchange for the bonds originally issued; and

5. The procedure for such refunding in accordance with

applicable law.